Dayli Blockchain Expands its Smart City Development

Today in Seoul Dayli blockchain, the company backing ICON and ICONLOOP, announced that they would expand their smart city business in an effort to gain support through a Social Indirect Capital project. Their shift in focus also brings them in line with the Korean government’s Green New Deal initiative.

Dayli Blockchain opened four new organizations as part of their shift in direction. The company opened Business Management, Technology Management and Research, Incubating Group, and Execution Headquarters organizations to promote the development and awareness of smart cities.

The technology management and research organizations will focus on discovering advanced technologies aimed at partnering with national projects through organizational separation while also acquiring intellectual property rights via patents. As the core of the technological side of their new direction, Dayli Blockchain is showing concerted effort to foster advanced ICT developments in-house. They are expected to reveal AI, blockchain, big data, and IoT patents in the future.

This new direction for the company comes at a time when smart cities have become increasingly appealing and profitable. In the new Covid-19 era, people are avoiding close contact with each other and preferring to err on the side of distancing. This becomes much easier with smart city accommodations. This new preference has translated into nearly $400 million in services.

One of South Korea’s premier smart cities, Song-do is in Incheon, near Seoul and Incheon International Airport. There, residents enjoy the comforts a smart city has to offer such as over 25km of bike paths, ample green space in parks, charging stations for electric vehicles, and water-cooled air conditioning in buildings to reduce energy costs and consumption. Universities and infrastructural advancements in Songdo could potentially utilize blockchain technology developed by Dayli.

Smart cities have been bubbling to the top of discussions about how the 4th Industrial Revolution will pan out in terms of what the ultimate contributions will be. Major debates center around AI, IoT, and blockchain technology being the main foundations of innovation across several fields of industry and public works. Smart cities act as a sort of testing ground and proving ground for the developments governments have funded through tech companies.

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